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Kevin Van Trump has over 20 years of experience in the grain and livestock industry.
Corn planting pace and total number of acres remain the current debate. I should point out in the record yielding year of 2009 the planting pace was reported at 22% complete compared to just 6% complete this year. But what you need to consider is that the following week the crop was reported at just 33% planted and after the first week in May just 48% planted. My guess is we end up very close to these numbers this year after the next two weeks are reported. Outside of weather, total acreage and the pace of planting there is not a lot of NEW news or headlines to discuss this morning. US corn imports into China remain limited as shipments of Syngenta's MIR 162 continue to be kicked. I should however note that US exports of DDGs in to China remain extremely strong. Producers should keep hedges in place as I believe the next few weeks could bring along lower prices. I am afraid we first have to digest the bearish news of an increased planting pace and then more total corn acres going in the ground. Once we get past those two obstacles then the trade will be able to start focusing more attention on what could be bullish "weather headlines." CLICK HERE for my daily report...
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